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What is the time period from beginning to closing an FHA loan?

  • July 26 2011 - El Campo
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Answers (12)

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Depends on the lender.  I typically get them done in 3-4 weeks.
  • July 26 2011
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It depends on the lender. With a larger bank typical turn time is 45 days and with a smaller lender 30 days is a reaonable expectation. Smaller lenders usually have the capability to close much sooner than 30 days if needed.

  • July 27 2011
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A "smooth" transaction will take 3-4 weeks.  Most delays occur around verifying income.  So if you are a W2 wage earner and your taxes support your income - things normally go smooth. 

If you're business for self or have a creative tax adviser then expect the underwriter to slow things down by asking for additional income verification.
  • July 26 2011
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Mine lender recommended we schedule closing 35 days out, and seemed pretty intent on having it done within 30 days so we would have 5 days of "breathing room". We havent closed yet, so that will remain to be seen.
  • July 26 2011
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30-45 days is typical.
  • July 26 2011
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21- 30 days
  • July 26 2011
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30 days is normal
  • July 26 2011
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In New York it is generally 5-6 weeks.

uh huh; 30 days for the lender, another couple of weeks while everyone waits for the attorneys to get their egos in check and agree to close. 
  • July 26 2011
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Your real estate agent should work with your lender to determine when a realistic closing date is.  A conservative estimate from contract to close is 6 weeks, but 4-5 weeks is probably more typical.

If there are inspection resolution issues that delay ordering the appraisal it can potentially take a bit longer.

The best advice I can give is to echo Chris Milker.  Ask your loan officer how long it will take to close your loan.  This should be a conversation your loan officer is having with your real estate agent, anyway.
  • July 26 2011
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30-45 days is a typical.
  • July 26 2011
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Depending on the lender and type of transaction (refinance or purchase) it should take no longer than 30 days, but I would ask your loan officer what the normal time frame is with his or her company to complete a transaction. 
  • July 26 2011
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In New York it is generally 5-6 weeks.
  • July 26 2011
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